SEC vs. Ripple Labs: Both Sides Declare Victory After Court Ruling Grants Injunction and Imposes Civil Penalties

The ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has taken another significant turn with a recent court ruling.

The ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has reached a new stage with the court's recent decision on remedies. The court ruled in favor of the SEC's request for an injunction to prohibit Ripple from further violations of securities laws and imposed substantial civil penalties.

Fox News reporter Eleanor Terrett contacted the SEC for their response to the latest court ruling in the XRP lawsuit.

A spokesperson from the Securities regulatory body stated that the court had imposed severe penalties. The fine is twelve times larger than what Ripple had suggested. The court also highlighted “the egregiousness of Ripple's conduct” and the seriousness of their violations.

Ripple, on the other hand, is celebrating the outcome as a win, noting that the final penalty is significantly less than the initial amount the SEC body had proposed.

Both parties seem to be satisfied with the court ruling, each believing they gained the upper news story. However, Eleanor Terrett speculates that neither party is likely to appeal the court's decision regarding the remedies. At the same time, the SEC might consider appealing the earlier July 2023 ruling now that the final judgment has been reached.

XRP price action

At the time of writing, XRP trades at $0.5868, showing a 31% increase over the last 30 days. The price chart demonstrates a substantial surge in the token's value following the recent court ruling.

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